Solution-Find which would not be part of the journal entry

Find which would not be part of the journal entry to record

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Reference no: EM132986991

Problem 1: Gaston owns equipment that cost $32,000 with accumulated depreciation of $22,400. Gaston sells the equipment for $8,600. Which of the following would not be part of the journal entry to record the disposal of the equipment?

Multiple Choice

Option 1: Debit Loss on Disposal of Equipment $1,000.

Option 2: Credit Equipment $32,000.

Option 3: Debit Cash $8,600.

Option 4: Debit Accumulated Depreciation $22,400.

Option 5: Credit Gain on Disposal of Equipment $1,000.

Reference no: EM132986991

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Find which would not be part of the journal entry to record

Reference no: EM132986991

Reference no: EM132986991

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